Assume you have a table with RecordID, VersionTimestamp, and VersionNumber.
Use EARLIER() or VAR with CALCULATE() to find the previous timestamp per record.
TimeDiffHours =
VAR CurrentRecord = YourTable[RecordID]
VAR CurrentTimestamp = YourTable[VersionTimestamp]
VAR PreviousTimestamp =
    CALCULATE (
        MAX (YourTable[VersionTimestamp]),
        FILTER (
            YourTable,
            YourTable[RecordID] = CurrentRecord &&
            YourTable[VersionTimestamp] < CurrentTimestamp
        )
    )
RETURN
IF (
    ISBLANK (PreviousTimestamp),
    BLANK(),
    DATEDIFF (PreviousTimestamp, CurrentTimestamp, HOUR)
)
Power Query Approach
- 
Sort the table by RecordID and VersionTimestamp.
 
- 
Group by RecordID, then:
 
- 
Use a custom column to subtract PreviousTimestamp from CurrentTimestamp in hours:
 
Duration.Hours([VersionTimestamp] - [PreviousTimestamp])